Bill Text: CA SB903 | 2013-2014 | Regular Session | Amended

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Bill Title: High-speed rail: property tax revenues.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2014-04-22 - Set, first hearing. Failed passage in committee. (Ayes 1. Noes 7. Page 3236.) Reconsideration granted. [SB903 Detail]

Download: California-2013-SB903-Amended.html

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BILL NUMBER: SB 903	AMENDED
	BILL TEXT

	AMENDED IN SENATE  APRIL 7, 2014

INTRODUCED BY   Senator Vidak
    (   Coauthor:   Senator   Fuller
  ) 
    (   Coauthors:   Assembly Members 
 Donnelly,   Gorell,   Harkey,   and
Jones   ) 

                        JANUARY 16, 2014

   An act to add Section 185036.5 to the Public Utilities Code,
relating to high-speed rail, and declaring the urgency thereof, to
take effect immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 903, as amended, Vidak. High-speed rail: property tax revenues.

   (1) Existing law creates the High-Speed Rail Authority with
specified powers and duties relating to the development and
implementation of an intercity high-speed train system, including the
power to acquire rights-of-way through purchase or eminent domain.
Existing law, the Safe, Reliable High-Speed Passenger Train Bond Act
for the 21st Century, authorizes $9.95 billion in general obligation
bonds for high-speed rail development and other purposes, creates the
High-Speed Passenger Train Bond Fund, and requires that moneys in
the fund be made available to the authority for expenditures, among
other things, related to the acquisition of interests in real
property and rights-of-way and the development and construction of
the high-speed rail system.
   This bill would require the authority, with  respect
  regard  to real property acquired by it and from
moneys available for expenditure by it from the fund, to annually pay
to the county in which the real property is located an amount equal
to the property tax equivalent, as defined.
   (2) This bill would declare that it is to take effect immediately
as an urgency statute.
   Vote: 2/3. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 185036.5 is added to the Public Utilities Code,
to read:
   185036.5.  (a) The authority shall, with  respect
  regard  to any real property acquired by it,
annually pay to the county in which the property is located an amount
equal to the property tax equivalent, as defined in subdivision (b).

   (b) For purposes of this section, the "property tax equivalent"
means 1 percent of the amount paid by the authority to acquire the
real property, whether by purchase or eminent domain, as that amount
is increased from year to year by 2 percent.
   (c) Payments under this section shall be made from moneys
available for expenditure by the authority from the High-Speed
Passenger Train Bond Fund, created pursuant to subdivision (c) of
Section 2704.01 of the Streets and Highways Code.
  SEC. 2.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:
   In order to protect counties, at the earliest possible time, from
a loss of property tax revenues as a result of the acquisition of
real property by the High-Speed Rail Authority, it is necessary that
this act take effect immediately.